Phunware, Inc. (PHUN): restructuring charge — Phunware lays off 32 employees (33% of workforce); expects ~$5M annual savings

Phunware, Inc.

Reduction in force affects ~32 full-time employees, representing 33% of workforce.
Severance costs expected to be immaterial; RIF to be completed by end of July 2023.
Annual cost savings of approximately $5.0 million anticipated from RIF and other cost measures.
Company refocusing on location-based platform in healthcare and hospitality for growth.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Phunware, Inc. announced a restructuring (approximately 32 full-time employees, representing 33% of the Company's workforce).

Type: restructuring
Headcount: approximately 32 full-time employees, representing 33% of the Company's workforce

Exact text from the filing

On July 14, 2023, Phunware, Inc. (the "Company") commenced a reduction in force affecting approximately 32 full-time employees, representing 33% of the Company's workforce.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Phunware, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-025161

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